Money Matters
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Money Matters with Newlyweds
My husband and I were married May 19th of last year and we always seem to have problems with money. Both of us are teachers and bust our butts to make a good income, but never have any money to do anything else but pay bills. We have YET to be on a honeymoon and we are still renting. We are trying to save to buy a house, but I also think we both really deserve a honeymoon/vacation. Plus, when the weekends come around, we have no money to actually go do anything (also we are taking more college classes to go up in the education field). So not only can we not plan anything fun for the future, we also can't plan anything fun for the weekends. Does anyone have any suggestions on how to save and yet still have a life? We having a savings account and we constantly put money in there for maybe a house/honeymoon/summer savings. We just really need guidance because honestly, the spark is slowly simmering because we do absolutely nothing anymore. Help!
Re: Money Matters with Newlyweds
What has worked best for us is the cash envelope system for groceries and gas. Once the money is gone for the month, it is gone. We had $17 leftover for February's grocery budget so we are putting it towards a date, which is really exciting and "a lot" of money for a date for us since we do free/cheap dates often.
We love using Groupon for deals; we went bowling a couple weekends ago with a LivingSocial deal that cost $10 and was for 2 games, 2 shoe rentals, 1 large pizza, and 1 pitcher of beer (which we ended up doing half a pitcher of soda for me and 3 beers for DH). And we scope out free events happening in the area: The planetarium about 15 minutes away has free admission on the first Friday evening of every month.
Also, we have a couple different savings accounts. One CD is an awesome concept: I can add money to it, but not take any out until it renews. I have the option to take out up to 75% one time, no fee, but have never needed to do so. Check your local banks/credit unions to see if they offer things like that.
H and I buy cheap frozen pizza (yummy crap food) and on the back they have cut outs for deals on bowling eg one game free. We go see plays through the comm college ($20). Usually our date nights include a movie on netflix and frozen yogurt/ice cream. Or dinner out (under $30) and board games at home. Or if we're really lazy just dinner we cooked together at home and a movie on netflix/one we already own or board games.
FWIW my H and I more than likely make less than you and we do okay. We're not rich by any means (in fact we're probably on the poorer side, we make under 50K combined in a MCOL area). If you and your H are both teachers you probably make around $60K together, I'm guessing. So you both have lots of SL debt or CC debt? Or all your extra money is going to continuing ed?
I hope you figure out a way to have some fun together. GL.
I agree with PPs, time to find some activities you and your H like doing that don't cost a lot of money.
A few years ago DH and I were in this position and we started throwing a weekly game night with friends - ended up being a pretty cheap way to have fun and hang out with people.
When the weather is nice, DH and I play disk golf in the park or go for bike rides - both cost us nothing and get us outside and exercising.
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Track your spending - every dollar! Then sit down and take a good look at just where your money is going. Make adjustments - stop eating out, limit cell phones to talk only, cable & internet - are they really necessary? You may be surprised at the money leaks - small stuff adds up.
If you have debt - read Total Money Makeover by Dave Ramsey
If you do not have a budget or have disagreements over money - read Smart Couples Finish Rich by David Bach
Invite friends to your house for a pot luck dinner -- you do not need to go out.
Take advantage of community activities that are inextensive or free.
Exercise together, (run, walk, ride bikes, etc)
Join an organization that interests you to volunteer your time and meet new people.
You do not have to spend money to keep the sparks going.